Understanding Partnership Taxation: Types of Basis, Contributions and Distributions
Thursday, Oct. 23, 2025
1-4:30 p.m. Central
4 CPE (4 technical) | 4 IRS CE
Course code: 25SR-0019
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Calculating partnership basis is essential but often confusing. The term "basis" can mean three different things: inside basis, outside basis and 704(b) basis. Dig into examples and practice problems to distinguish between these terms. Explore the tax implications of initial contributions of property to a partnership as well as the different types of partnership distributions.
Major subjects
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Three different types of basis
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Contributions of property
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IRC 704(b) -- Capital Accounts and Special Allocations
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Contributions of property and debt
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Contributions of services
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IRS Notice 2020-43
Learning objectives
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Calculate inside basis, outside basis and 704(b) basis
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Recognize the concept of substantial economic effect
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List the three requirements that need to be present for an allocation to be deemed to have economic effect
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Calculate the reallocation of items of gains and loss under IRC 704(b) when a qualified income offset is present
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Recognize the tax effects of transferring cash, property and services to a partnership
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Recall the tax effects of contributing assets that are encumbered by debt to a partnership
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List the key rules of thumb to remember when dealing with distributions
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State the ordering rules for calculating a partner's tax basis
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Describe the key differences between liquidating and non-liquidating distributions
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Determine any applicable tax gains and losses of cash and property distributions
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State the ordering rules for hybrid distributions that involve both cash and property
Who should take this program?
- Tax practitioners looking to improve their knowledge of basis types, the calculation of basis, and the implications of making contributions to a partnership
Pricing
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Standard Member Fee |
$220.00
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 Standard Nonmember Fee |
$270.00
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